Regulation to Amend Regulation 1015 of the Revised Regulations of Ontario, 1990 made under the Securities Act

reg1999.0837.e
1-LAH

REGULATION TO AMEND REGULATION 1015 OF THE REVISED REGULATIONS OF ONTARIO, 1990 MADE UNDER THE SECURITIES ACT

Note: Since the end of 1998, Regulation 1015 has been amended by Ontario Regulations 1/99 and 322/99. Previous amendments are listed in the Table of Regulations in the Statutes of Ontario, 1998.

1. Subsection 44(1) of Regulation 1015 of the Revised Regulations of Ontario, 1990 is revoked and the following substituted:

(1) The prospectus of a mutual fund shall be prepared in accordance with Form 15, except as otherwise provided in National Instrument 81-101 Mutual Fund Prospectus Disclosure.

2. Section 49 of the Regulation is amended by adding the following subsection:

(1.1) The requirements set out in subsections (2), (4), (5) and (6) apply except as otherwise provided in National Instrument 81-101 Mutual Fund Prospectus Disclosure.

3. (1) Subsection 52(1) of the Regulation is amended by striking out "the Rules entitled "In the Matter of a Simplified Prospectus Qualification System for Mutual Funds" (1984), 7 OSCB 5333, National Policy Statement No. 36 (1984), 7 OSCB 5355, as amended and National Policy Statement No. 39 (1987), OSCB 6465, as amended" and substituting "National Instrument 81-101 Mutual Fund Prospectus Disclosure".

(2) Subsection 52 (2) of the Regulation is amended by striking out "the Rules entitled "In the matter of a Simplified Prospectus Qualification System for Mutual Funds" (1984), 7 OSCB 5333, National Policy Statement No. 36 (1984), 7 OSCB 5355, as amended and National Policy Statement No. 39 (1987), OSCB 6465, as amended" and substituting "National Instrument 81-101 Mutual Fund Prospectus Disclosure".

4. Paragraphs 1, 2 and 3 of subsection 81(1) of the Regulation are revoked and the following substituted:

1. National Instrument 81-101 Mutual Fund Prospectus Disclosure.

5. (1) Subsection 240(1) of the Regulation is amended by striking out "policy or practice" wherever it appears and substituting in each case "rule, policy or practice".

(2) Subsection 240(2) of the Regulation is amended by striking out "policy or practice" and substituting "rule, policy or practice".

6. This Regulation comes into force on February 1, 2000.

ONTARIO SECURITIES COMMISSION:

"Howard I. Wetston", Vice-Chair

"J. A. Geller", Vice - Chair

Dated on NOVEMBER 11, 1999.